Sustainability
Oxford Metrics takes sustainability seriously. We have partnered with Environmental, Social and Governance (ESG) consultancy, Addidat, to help us ensure our sustainability strategy is based on best practice, relevant, and proportionate for an AIM listed business.
We are committed to working ethically and in an environmentally and socially responsible way, and we believe sustainable working practices are an important enabler of our growth strategy. Whilst we are already taking several positive steps, we recognise the need, and are committed, to doing more.
In the last twelve months we have focussed on aligning Industrial Vision Systems Ltd, the business we acquired in November 2023, onto our sustainability model as appropriate for its size and operations and including supplier management and oversight, cyber and information security, risk management, people management and operations, taken steps to reduce the environmental footprint of its operations, and expanded employee benefits including external training and development.
We have also taken steps to strengthen our understanding of ESG risks in our supply chain across the Group.
Looking ahead, we will continue our investment in our Group-wide sustainability strategy, underpinned by metrics, and overseen by our Board. We will continue to evolve our working practices to increase the positive impact on our employees, our customers, our investors, and the world in which we work and are in the process of aligning to the updated 2023 QCA Corporate Governance Code which we are preparing to report on from FY25.
Additionally, following the acquisition of Sempre Group Holdings Ltd on 11 October 2024, and as with Industrial Vision Systems in the last year, we are working through integrating Sempre Group Holdings which includes aligning with the sustainability model in place across the Oxford Metrics business as outlined below.
What is Oxford Metrics doing today?
Environmental
- Transitioning to fully recyclable packaging
- Transitioning to fully recyclable product components
- Support longevity of product - seven years hardware support post last sale & software support for life
- WEEE authorised - Vicon & Industrial Vision Systems products are recycled & waste disposed appropriately at end-of-life
- RoHS compliant - no hazardous material in Vicon products
- Use UK suppliers where possible
- Redesigning exhibition operations to source local and reuse material
- Reducing paper use in own operations and customers
- Reporting our carbon footprint in line with Streamlined Energy and Carbon Reporting (SECR)
Social
- Mental health support available for all permanent staff
- Real Living Wage Foundation accredited
- Hybrid and flexible working where appropriate
- Calculate Gender and Age diversity data including Gender Pay Gap
- Invest in employee development
- Anti-modern slavery, anti-child labour and Human Rights statements
- Perform on-site due diligence visits with high-risk Vicon suppliers
Governance
- Gender diverse Board
- Independent Board and chair
- Antibribery and whistleblowing policies
- Bottom-up risk management framework
- Robust Cyber and Information security framework with full time ISO
- Vicon and Industrial Vision Systems are Cyber Essentials certificated
- Vicon is Quality Management ISO certified - 9001, 13485
- Share IP - embed software and hardware into customer products
- Board level accountability for ESG
Our team
Our team is the lifeblood of our business, they drive day-to-day operations and contribute their diverse skills, experiences, and passion to fuel our growth and long-term success. The success of the business depends on having engaged and dedicated employees. This is reflected in our very high retention rate, 87% globally, of which we are very proud.
Our employees are respected
We recognise the value of our team, and we provide our employees with a competitive salary and comprehensive benefits package. All our employees are paid the real living wage and this year we achieved the Living Wage Foundation accreditation across all group entities in the UK. We encourage open communication with all employees, hold regular staff briefings, and we also engage all our employees anonymously on important topics, seeking input on matters that affect them.
Our employees are safe
All staff have access to a confidential mental health support programme, and we have a robust and externally audited physical health and safety framework. We closely monitor injury data which is reported to the Board as part of their Risk Management oversight role.
Our employees grow with us
Progression is encouraged at Oxford Metrics and as we scale the organisation, we want our staff to grow with us. We have several great role models that showcase successful personal growth with the firm. In addition to opening positions internally before recruiting externally, we support the team in their professional development and qualifications. As an example, all our employees are currently enrolled on a third-party leadership development programme, fostering a culture of self-improvement and accountability across the group.
Our employees are diverse
We have an inclusive culture at Oxford Metrics, and we are proud of our diverse workforce, including up to Board level, which we continually look to improve on. We monitor gender and age diversity across the Group. Flexibility is an important enabler of diversity and continue to offer flexibility in our core working hours. This, combined with our existing hybrid working model, where appropriate, allows our employees to have autonomy in their working life and will support us as we to continue to expand our diverse workforce.
Our customers
Our pioneering, reliable and high-performing products, and our collaborative approach with customers, are critical enablers of our five-year growth strategy. We are proud of our high level of repeat customers.
Our products are built to the highest quality
We employ a robust quality management system across the group and Vicon, as our largest business, is ISO 9001 and ISO 13485 certified., Quality management at Oxford Metrics follows strict criteria to establish processes that ensure consistent product, service quality, customer satisfaction and continuous improvement.
Our products are safe
Our Vicon products are Restriction of Hazardous Substances (RoHS) compliant, meaning that our cameras are free of hazardous substances, safeguarding the health of our customers, and the environment. We are taking steps to align Industrial Vision Systems to the same RoHS standards and have started engagement with suppliers to this end.
Our products are built to last
We support all our hardware products during market-life and for at least an additional seven years after the last product is sold. We provide software support for the life of our customers’ systems
We collaborate with our customers
To reach new markets and widen the benefits of our product capabilities to society, we are working together with customers and embedding our Intellectual Property into their products. Customers also play an important role in our R&D process, with a feedback mechanism in place between our Customer Support and Product teams.
Our operations
As a manufacturer of electronic products, we understand the importance of environmental and social sustainability within our own operations and our supply chain. We are taking steps to reduce our impact on the environment from redesigning our products and transforming our operational processes.
We are transitioning to recyclable packaging
We are committed to removing non-recyclable materials from our product packaging; we have made great progress to date and continue to invest our time and resources to only use recyclable packaging. Where it has not been possible to remove non-recyclable material from suppliers yet, we re-use these packaging elements downstream to our customers.
We are increasing the recyclability of our products
We have already made design changes to our products to reduce non-recyclable material use and we continue to challenge ourselves on how we can improve.
We reduce waste and maximise recovery of valuable resources from our products
As an authorised Waste Electrical and Electronic Equipment (WEEE) recycling Company, any end-of-life waste is managed in accordance with local regulations, minimising the environmental impact of our products.
We are redesigning our exhibition operations
We continue to reduce our dependency on shipping by using local materials and suppliers for trade exhibitions and have redesigned our exhibition stands to promote reuse and recycling.
We are building an understanding of our supply chain sustainability
We are committed to best practices across our supply chain. We understand who all our suppliers are and have engaged them in a questionnaire to understand the environmental and social impact of our supply chain, including human rights, modern slavery and child labour, environmental, health and safety, and quality assurance. We use UK suppliers where possible and conduct onsite due-diligence visits with key suppliers in higher-risk locations. Our Modern Slavery Statement is reviewed annually, available on our website and has been sent to all our suppliers to confirm adherence.
We are building an understanding of our carbon footprint
We have calculated our carbon footprint in line with the UKs Streamlined Energy and Carbon Reporting (SECR) regulation since our FY23 annual report. As a growing business, our carbon footprint has increased over the last year following the acquisition of Industrial Vision Systems and expansion of our Vicon operations. This trend is likely to continue into the next financial year and medium term, as we continue to expand our business in line with our five-year strategy, including for example the recent acquisition of The Sempre Group. Please see our Annual Report for our full SECR disclosure.
Our governance
Good corporate governance is a key driver in the success of the business and accountability to the Company’s stakeholders, including shareholders, customers, suppliers, and employees, is vital in that governance. The below complements our full Statement on Corporate Governance, in alignment with AIM Rule 26 and The Quoted Companies Alliance (QCA) Corporate Governance Code, which can be found here. We are working to align to the updated 2023 QCA Corporate Governance Code and will report on this from FY25.
Our board is diverse
Our majority independent Board is gender diverse (50% female) with a broad range of backgrounds and experience, fostering multiple perspectives that enable us to be agile in the face of change, anticipate and respond to risks and opportunities, and to execute the strategy successfully.
Our board is accountable for ESG
To ensure the ESG strategy underpins our wider five-year business plan and is embedded into the culture across the Group, the Board must take accountability for the execution of ESG. Executive Director and Board member, Cathy Robertson, is responsible for setting and overseeing our ESG strategy and reporting progress directly to the Board.
We have a robust risk management framework
The Board has embedded an effective risk management framework to identify, evaluate and manage opportunities and risks, and to execute the strategy and five-year business plan. Please see our Annual Report for more details on our Risk Management approach.
We have a bottom-up approach to risk identification to ensure the Board has access to the challenges encountered across the organisation. We also have a comprehensive employee handbook, which includes our policies on whistleblowing, anti-bribery, health and safety procedures, and modern slavery, all of which form part of the compulsory induction program to be completed by all staff. Employee Policy attestation is managed and stored centrally within our new HR system.
Information and cyber security are a priority
Both Vicon and Industrial Vision Systems are Cyber Essentials certified. Our robust cyber and information security framework reports to the Board and benefits from continual investment. We have a dedicated Information Security Officer who is responsible for implementing our control framework which includes email scanning, multi-factor authentication, threat detection software, staff awareness training to strengthen our human firewall, as well as internal and third-party penetration testing and regular back-up and recovery testing.
Maintaining compliant in line with evolving ESG regulations
Whilst our current mandatory ESG reporting requirements are minimal, we are aware of the evolving ESG regulatory demands on UK businesses. As we grow and new regulations are implemented, we will continue comply with mandatory obligations.
